The United States will provide its oil industry stores with strategic reserve storage facilities

The US Department of Energy plans to provide oil and US strategic oil reservoir reservoirs, Bloomberg reports . However, the market is now so filled with oil that even this measure will only delay the overflow of commercial storage facilities. After that, the oil industry will have to reduce production.

The initiative arose at the US administration after the Congress refusal to allocate $ 3 billion for the purchase of cheaper oil in reserves to support manufacturers, the agency writes.

Now in a strategic reserve of 77 million barrels of free capacity of 713.5 million. This is not so much - about a week of a week of production of the US oil industry. Reserve oil is pumped into salt domes on the coast of Texas and Louisiana, which are suitable for long -term storage, and not for the rapid extraction of raw materials.

• Now Brent oil prices are fluctuating in $ 25 per barrel, and on March 30 it fell below $ 24, to minimums since 2002. WTI oil is traded at $ 22.
• Prices for a number of oil brands in the US physical market are below $ 10, and in some cases negative . This is primarily about deposits without access to the sea.
• Russian oil Urals fell in price to $ 13 per barrel and became cheaper than a European fuel oil. Moreover, in all areas of sea exports (Primorsk, Ust-Luga, Novorossiysk), a negative export non -back was formed: this means that the cost of oil delivery is higher than the price of oil in sales markets.
• Today, April 1, an agreement on reducing the production of OPEC+oil production has stopped applying. Saudi Arabia has already increased prey to the technical maximum, Russia has not yet increased it, although it has considered the possibility of building the production of 200-300 thousand barrels per day.

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